Canadian Investment in Building Construction Down for Third Consecutive Month in July

Original Source:
Investment in building construction, July 2021

Statistics Canada (StatsCan) reported this morning (9-13-21) that investment in building construction in Canada was down -1.7% to $18.1 billion (C$) in July. On a constant dollar basis (2012=100), investment in building construction declined 1.6% to $13.0 billion in July.

Residential construction investment was down -2.6% in July, a third consecutive monthly decline after a sustained period of strong growth from May 2020 to April 2021. Declines in all provinces brought investment in single-family homes down -4.0% to $7.2 billion. Ontario posted the largest decrease after reaching a record high in April 2021, followed by Quebec, Saskatchewan and Alberta.

Non-residential construction investment was up 0.9% in July to $4.6 billion. Institutional investment posted its ninth consecutive increase (+2.2% to $1.3 billion), with the majority of provinces and territories reporting gains in July. Commercial investment was up 0.6% to $2.5 billion in July. Alberta posted the highest increase (+6.0%) due to higher spending on office buildings and buildings for trade and services.

FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.